Today, I’m talking with Glenn Fogel, the CEO of Booking Holdings, which owns a large portfolio of familiar travel brands: OpenTable, Kayak, and Priceline, as well as its largest subsidiary, Booking.com. This episode is pure Decoder bait all the way through — from Booking’s structure, to competition with hotels and airlines increasingly going direct to consumer, even to how European regulation affects competition with Google. Oh, and of course, how Booking is incorporating AI; Glenn has some fascinating thoughts there.

Glenn really got into it with me — there’s a lot going on in this space, and it’s interesting because there are so many players and so much competition across so many of the layers, even among Booking’s own subsidiaries. I think we probably could have gone twice as long.